NatWest Markets

British American Tobacco has offered the sterling market its second long dated bond in as many days, a £350m 40 year tranche as part of a €1.1bn offering.

Demand was so strong for an agency bond tap on Thursday that the leads had to ask the issuer to increase the deal, as SSA investors scrambled to get their hands on one of the last large issues of the year.

UK building materials producer Breedon is eyeing a move to main market of the London Stock Exchange after its £336m acquisition of competitor Hope Construction Materials.

British American Tobacco has offered the sterling market its second long dated bond in as many days, a £350m 40 year tranche as part of a €1.1bn offering.

Royal Bank of Scotland has told bondholders it will buy back any and all of seven notes across sterling, dollars and euros, as the UK bank continues to retreat from certain businesses.

Hiscox secured strong demand for its £250m 30 year non-call 10 tier two notes on Tuesday as sterling investors showed no signs of fatigue despite a recent spate of subordinated issuance from British insurers.

RBS’s plan for its investment bank assumes no revenue attrition in the division, despite further ambitious cost-cutting plans that will take out £2bn of costs in the next three years.

Royal Bank of Scotland has moved its leveraged finance and high yield origination and structuring team out of its investment bank and into its Commercial and Private Banking division, where it will fall inside the ringfence when RBS implements the controversial UK bank segregation rules.

Swiss foods group Nestlé issued a €500m no-grow bond on Wednesday, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

Swiss foods group Nestlé issued a €500m no-grow bond today, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

Cabot Credit Management, the UK debt purchasing firm, on Wednesday raised €310m of secured notes to support its buyout of peer company Hillesden Securities from Faccenda Investments.

The Financial Stability Board made three changes to its list of global systemically important banks (G-SIBs) on Tuesday.